I never said I was certain and I wouldn't load the boat either, I definitely will be accumulating though. The longer we bottom in a range the more powerful the UP move will be. Everyone says we need capitulation for a bottom and most times that's true, but this time I just don't see it.
November, December, and January are historically good months. Inflation seems to be in check, the fed will probably start lowering interest rates in the beginning of 2001. There's plenty of money sitting on the sidelines, and there's plenty of shorts that will cover and go long once the market starts it's rally.
The market hates uncertainty, and IMO, the only uncertainty is the Presidential election, once out of the way the climb to 4000+ will begin.
As far as the BBY warning, I'm sure some of it was due to the slowing economy, but allot of it is from pricing pressure from discounters that forced BBY to heavily mark down its products, including DVD players, which eroded profit margins.
I'm out of retail for now and concentrating on health, drugs, and infrastructure-broadband... |
